Results
Second quarter GAAP Diluted EPS of $0.45
Adjusted EPS of $1.48 increased 8.8% over the prior year period
Revenue increased 29% on a GAAP basis to $3.4 billion, increasing 31% on an adjusted basis and 5.3% on a Pro Forma basis
Net cash provided by operating activities was $493 million and Free cash flow 1 was $525 million, increasing 220%
Outlook
Updated full-year 2026 outlook, including Adjusted revenue growth of 29 - 30%, Adjusted EBITDA growth of 32 - 34%, Adjusted EPS growth of 7.0 - 8.5% and Free Cash Flow 1 growth of 33 - 39%, to $2,150 - $2,250 million 2
1Updated 2026 outlook for Pro Forma revenue growth to 4.5 - 5.0%, as compared to 5.1 - 5.7% and Pro Forma Adjusted EBITDA growth to 5.9 - 6.9%, as compared to 7.2 - 8.4% 2Guidance lowered
Results
JACKSONVILLE, Fla., August 4, 2026 - FIS ® (NYSE: FIS), a global leader in financial technology, today reported its second quarter 2026 results.
Management commentary
“Our first half reflects the strength of the business we have built defined by durable recurring growth, expanding margins, and accelerating cash generation,” said FIS CEO and President Stephanie Ferris.
“Banks are investing decisively behind modernization and AI, and they are choosing FIS as their partner.
With the Total Issuing Solutions acquisition ahead of plan, we are uniquely positioned to leverage our global scale and end-to-end solutions to serve financial institutions of all sizes.”
Results
Second Quarter 2026 Financial Results
On a GAAP basis, revenue increased 29% as compared to the prior-year period to approximately $3.4 billion.
GAAP net earnings attributable to common stockholders were $231 million or $0.45 per diluted share.
On an adjusted basis, revenue increased 31% as compared to the prior-year period.
Adjusted EBITDA increased 35% to approximately $1.4 billion and Adjusted EBITDA margin expanded by 193 basis points (bps) compared to the prior-year period to 41.7%, reflecting the acquisition of the high margin Total Issuing Solutions™ business, favorable mix and cost savings.
Adjusted net earnings were $763 million, and Adjusted EPS increased by 9% as compared to the prior-year period to $1.48 per diluted share.
On a Pro Forma basis, revenue increased 5.3% as compared to the prior-year period, including recurring revenue growth of 5.1%.
Pro Forma adjusted EBITDA increased 7.4% and Pro Forma adjusted EBITDA margin expanded by 113 basis points (bps) compared to the prior-year period to 41.7%, reflecting favorable mix and cost savings.
Segment Information
Banking Solutions:
Second quarter revenue increased 44% on a GAAP basis and adjusted basis as compared to the prior-year period to $2.5 billion.
Adjusted EBITDA increased 50% to $1.1 billion and Adjusted EBITDA margin expanded by 179 basis points as compared to the prior-year period to 45.8%, reflecting the acquisition of the high margin Total Issuing Solutions™ business, favorable revenue mix, and the impact of continued cost management.
On a Pro Forma basis, revenue increased 6.1% as compared to the prior-year period, including recurring revenue growth of 5.0%.
7Pro Forma adjusted EBITDA increased 11% and Pro Forma adjusted EBITDA margin expanded by 178 basis points (bps) compared to the prior-year period to 45.8%, reflecting favorable revenue mix, and the impact of continued cost management.
Capital Market Solutions:
Second quarter revenue increased by 3.5% on a GAAP basis and 3.2% on an adjusted basis as compared to the prior-year period to $810 million, reflecting recurring revenue growth of 5.3%.
5Adjusted EBITDA increased 2.8% to $420 million and Adjusted EBITDA margin contracted by (32) basis points as compared to the prior-year period to 51.9%, reflecting higher labor costs and the timing of certain customer-related expenses.
Corporate and Other:
4Second quarter revenue decreased by 26% as compared to the prior-year period to $84 million, primarily due to the decline of our non-strategic businesses.
Adjusted EBITDA loss was $147 million, including $148 million of corporate expenses.
Balance Sheet and Cash Flows
Second quarter net cash provided by operating activities was $493 million and Free cash flow 1 was $525 million, up 220% as compared to the prior-year period.
The Company returned $270 million of capital to shareholders through $42 million of share repurchases and $228 million of dividends paid.
As of June 30, 2026, debt outstanding totaled $21.2 billion.
Capital return
Capital Allocation
Following the close of the Total Issuing Solutions™ business, the Company has temporarily curtailed share repurchases and paused tuck-in M&A activity to accelerate deleveraging.
The Company will continue to pay quarterly dividends targeting dividend per share growth in line with Adjusted EPS growth.
6The Company expects to resume meaningful share repurchases once it has achieved its target gross leverage of approximately 2.8x.
Outlook
Third Quarter and Full-Year 2026 Outlook
8For the full-year, the Company is updating its outlook, projecting Adjusted revenue growth of 29 - 30%, Adjusted EBITDA growth of 32 - 34% and Adjusted EPS growth of 7.0 - 8.5%.
2On a Pro Forma basis, revenue is projected to grow 4.5 - 5.0%, as compared to 5.1 - 5.7%, and Adjusted EBITDA is projected to grow 5.9 - 6.9%, as compared to 7.2 - 8.4% 2 .Guidance lowered
3Additionally, the Company is increasing its target for Free Cash Flow 1 by $100 million to $2.15 - $2.25 billion, or growth of 33 - 39% as compared to the prior year.Guidance raised
($ millions, except share data)3Q 2026FY 2026
Revenue$3,415 - $3,445$13,630 - $13,695
Adjusted EBITDA (Non-GAAP) 2$1,460 - $1,480$5,730 - $5,785
Adjusted EPS (Non-GAAP) 2$1.58 - $1.62$6.15 - $6.24
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